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Fiat Money System

Federal Reserve Scam

Baltimore Mayor Vetoes Minimum-wage Bill After Doing “Research”

During her election campaign for mayor of Baltimore last fall, Democrat Catherine Pugh (shown), along with dozens of other Democratic politicians, supported the “Fight for 15” to raise the minimum wage to $15 an hour. Last week, she had the opportunity to fulfill that promise when the Baltimore city council passed a bill doing just that. But, after doing “some research,” Pugh changed her mind and her position, saying instead that “I am vetoing this bill.” 

Maybe she understands that any minimum wage violates the rights of individuals to buy and sell their skills in the marketplace. Isn’t the right to offer one’s labor to someone willing to buy it a natural right — a “right to life, liberty and the pursuit of happiness,” as Thomas Jefferson put it? 

However Baltimore Mayor Catherine Pugh arrived at the conclusion that minimum-wage laws hurt more than they help, it was the correct one. What is surprising is that she was open to the idea at all, and then was willing to veto the bill. 

As expected, members of the city council are outraged and are already plotting a strategy to override her veto. After all, they know more than she does about these things. 

DYI:  Democrat Mayor Catherine Pugh for whatever reason did a 180 degree change.  That is astounding.  Minimum wage laws are harmful economically and based upon morals each individual should have the freedom to sell their skills to an employer without interference from government.  If minimum wage laws were eliminated employment would increase significantly at the entry level.

The biggest problem is not the minimum wage it is the soundness of the Dollar or I should say lack of soundness.  The elites who cozy up close to the Central bank money spigot BEFORE the Dollars become inflated are able to purchase income producing assets borrowed at sub atomic low rates at less than the expected inflation rate.  At the other end of the spectrum those at the minimum wage level – and the middle class as well – has no such deal.  Do due chronic debasement of the Dollar – INFLATION – the middle class and especially the poor are always playing “catch up” to the ever increasing living costs.  In desperation promote increases in minimum wage, it is understandable but as stated before distorts employment and if pushed too high will result in less employment.

Before the last vestige of the gold standard eliminated by President Nixon in 1971 my father was able to raise four children plus his wife and himself all on a mailman’s salary.  He was NOT in management; simply a postal carrier delivering the downtown route in a small town of Willoughby, Ohio east of Cleveland.  He was able to purchase a house and rapidly pay it off, purchase a car, put good food on the table, clothes, health care, and a modest amount of money for savings plus a bit of fun.  Today??  A family of six?….Not a chance…even before the great recession.  Why?  The U.S. Dollar had far greater purchasing power due to the remaining convertibility to gold.  Simple as that!  The Federal Reserve (it’s private and has no reserves) was created to benefit the elites.

DYI

The Creature from Jekyll Island – written by G. Edward Griffin is an excellent explanation of our central bank WITHOUT economic jargon.  Along with top notch prose making for an enjoyable read.  It must be, as Griffin’s book is in its 5^th edition and 39^th printing.  That’s not a typo….39^th printing.  A great book for the liberty minded.